Facebook co-founder Eduardo Saverin is expected to save hundreds of millions of dollars or more on his tax liabilities after becoming one of the more high-profile individuals to renounce U.S. citizenship in recent years. The Brazilian-born multi-billionaire now lives in Singapore, where the government does not impose capital-gains taxes or take a cut of income earned abroad.
With social-networking giant Facebook ready to launch an initial public offering (IPO) of its stock, analysts have estimated that the company could be worth as much as $100 billion. That means Saverin, who owns about four or five percent of the company, might be sitting on billions of dollars’ worth of assets — a figure that almost certainly would get the Internal Revenue Service (IRS) and the big-spending U.S. government frothing at the mouth.
The U.S. government is developing implantable sensor microchips for use in American troops, supposedly to monitor their health on the battlefield, the Defense Advanced Research Projects Agency (DARPA) announced earlier this year seeking proposals. But critics of the scheme are speaking out, warning that the new technology could just be a prelude to expanding the use of related devices among the general population — with dangerous implications for freedom and privacy.
Supposedly on Americans’ behalf, the U.S. government is employing new hardware, such as supercomputers, monitoring systems, and laws to literally and figuratively lay us bare at will. “The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures” is being undermined by the new surveillance state.
To rival the campaigning efforts of Mitt Romney and other GOP presidential hopefuls, President Obama’s reelection campaign is employing an array of high-technology tactics.
Last summer, the President’s reelection team hired dozens of engineers, developers, data scientists, and other specialists to bolster its new media and web development platform. "We need your help recruiting the folks that will wage the most innovative and effective digital campaign in history," Obama’s top digital strategist Joe Rospars wrote in an email to prospective staff members, "a team that will not just surpass but demolish our fundraising, communications, and organizing goals."
Is saving 30 percent on your car insurance enough to justify granting Big Brother access to your vehicle? That’s the question many consumers and industry analysts are asking, as more auto insurance companies offer new options that calculate premiums based on a person’s driving habits, rather than set variables such as age, gender, and past driving records.